Tips for Preparing for a Potential Recession

Woman looking frustrated while sitting at her desk with a laptop and a cup of coffee

If you’ve been keeping tabs on the news lately, you might be aware of the looming threat of an economic recession. If you’re like a lot of people, you probably hear the term often but don’t necessarily know what it means.


A recession is defined as a consecutive decline in economic growth for two quarters, and they tend to happen more than we think (roughly every 3.5 years).

The COVID-19 pandemic got the word thrown around a lot, and given the 2008 worldwide recession many of us not-so-fondly remember, it makes sense that a recession is our generation’s boogeyman - so what do we do about the possibility of another one?

Read on to find out more about how to prepare for a potential recession, and how you can make your dinero work for you should the economy slow down.

Get that emergency fund stacked

Woman smiling at the camera while shacking a piggy bank.

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We get it - saving money or having any kind of savings at all is a privilege, but a safety net is never a bad thing. In a world where Latina finances are complicated, savings are simple and straightforward. We’ve all heard the rule of having at least 3 months of emergency savings at all times, but during times of economic downturn, we recommend trying to up this to 6 months of savings if possible.

If it’s hard to fathom even saving that much, try to stick to a very strict budget and deposit savings wherever you can - an odd $5 here, $20 there does actually have a large impact! And with so many AI-enabled savings tech out there, it’s easy to easily stash away very small amounts every day they add up over time without ever giving it a second thought. Our fave is Digit.

Pay off high interest debt

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While we’re always told credit is king, carrying high interest debt such as credit cards is a no-go in a recession economy. With so much economic uncertainty, it’s important to put yourself in a position to win and ensure that your debt-free status is secured - so do your best to pay off those cards, mija! Your future self will thank you for the clean slate.

Consider your current job security

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Many people saw themselves unexpectedly filling out applications for unemployment during the pandemic, and jobs that were previously seen as “safe” were found to have little to no security at all during the pandemic, making us rethink the entire concept of job security entirely. Some industries were found to be more volatile than we previously thought - think service jobs like retail and foodservice - and many made career changes based on that alone.

Recession-resistant jobs, on the other hand, included those employed in healthcare, education, public safety, and the federal government. With recent layoff announcements from major tech companies like Meta and Netflix, it might be time to shop around for a new career with more job safety.

Keep an eye on the news

Yes, watching the news is a critical component to remaining informed during pre-recession times! Though recessions are not predictable, there are some early warning signs that help you prepare more effectively should one occur. The main signs we’re seeing in 2022? The Federal Reserve has raised interest rates to offset inflation, making the price of things like rent and gas reach historic highs for consumers. With future interest hikes potentially in the works, we see interest rates rising as one of the first indicators of a potential recession.

Also among the signs, the S&P 500 (a stock market index tracking 500 companies listed on the stock market exchange in the US) is currently in bear market, meaning it saw a 20% drop as of May 20th. According to Latina finance expert Linda García, “What’s important to note here is that the stock market is always the first to drop and the first to begin making a recovery. This is because the stock market is forward looking. It identifies problems before other parts of the economy and it sees the recovery before them as well.”

Fund your Roth IRAs and 401ks

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We know, right? On top of saving and needing to prep for maybe losing your job, funding your retirement accounts seems a little off target. However, it is important to keep in mind that with the stock market taking a hit, stocks are relatively cheap right now to buy. This means that by funding your retirement accounts, you’re getting access to discounted stock prices - all the better in a recovered economy and future you!

This is all meant to help prepare our community for threats to our financial wellbeing. From what the experts are saying, it’s not a doomsday call, but it is a to-do list to help make you the most financially stable as possible, and whether in a recession or not, that’s always a good thing.

Need more guidance on your finances? Check out Luz Community partner SUMA Wealth. Join the Luz Community to access more and get yourself prepared for anything that comes your way.

hands holding up yellow protest signs that say Hands Off Our Bodies
Photo Credit: Gayatri Malhotra via Unsplash

Originally published in Common Dreams. Reprinted with permission.

The Latino electorate will prove decisive in securing reproductive freedom and abortion access through ballot measures around the country, particularly in states where Latinos are a significant portion of the electorate.

In November, abortion rights measures will appear on ballots across ten states, including Arizona, Colorado, Florida, Nevada, and New York, where Latinos make up a significant portion of the electorate. For decades, pundits and politicians have recycled long-held misconceptions about Latino voters and abortion access, citing our conservative and religious beliefs.

Anti-abortion extremists have long fueled these misconceptions through misinformation and disinformation campaigns targeting Latino communities with egregious lies and inflammatory rhetoric about abortion. Yet, polling, focus groups, and direct interactions with Latino communities have debunked these outdated tropes.

The Latino electorate will prove decisive in securing reproductive freedom and abortion access through ballot measures around the country, particularly in states where Latinos are a significant portion of the electorate.

For Latinos, the freedom to decide, a pillar of our American democracy, is critical. Meanwhile, Latinos are being hit directly with anti-abortion efforts that take away that freedom such as the six-week abortion ban put into effect by the Florida Supreme Court and the 1864 abortion ban upheld by the Arizona Supreme Court. In the wake of the Dobbs decision, people of color and Latinas have felt the impact of a lack of abortion access, an element of basic healthcare.

A 2023 report by the National Partnership for Women and Families estimated that nearly 6.5 million Latinas, or 42% of all Latinas of reproductive age in the country, live in a state that either had or was likely to ban abortion. Ironically, it will be abortion access and anti-choice efforts to restrict freedom of choice that will mobilize Latino voters this election.

In a poll conducted by three national reproductive justice organizations, 87% of Latinas named abortion and women’s rights as one of their top priorities as they head to the polls. Another battleground poll conducted by Somos PAC and BSP Research found that 61% of Latino registered voters expressed a more positive/favorable view of Kamala Harris after hearing that she will protect abortion rights, versus only 19% of Latinos who said they had a more negative view of Harris after hearing that.

In key states to secure the White House and both chambers, Latinos make up large chunks of the electorate: Arizona (25%), Colorado (15%), Florida (20%), Nevada (20%), and New York (12%). In the face of unprecedented attacks on basic healthcare access and targeted attempts by extremists to mislead and divide our community on this issue, this November Latinos will be key deciders on abortion access across the country.

Mari Urbina, Managing Director of Indivisible, Battleground Arizona Lead and former Harry Reid advisor.

Héctor Sánchez Barba is president and CEO of Mi Familia Vota (MFV).

This Viral Video Game Is Changing the Face of Voter Outreach

In 2024, voting campaigns have evolved greatly, to say the least. Creativity is now the name of the game and tongue-in-cheek humor is expertly leveraged to drive action. One example of that is Bop the Bigot, a revival of a viral game created in 2016 by Bazta Arpaio, an Arizona activist group, as part of a campaign to unseat Maricopa County’s Sheriff Joe Arpaio. Arpaio lost his re-election to Paul Penzone that year.

The game has now been updated for the current election cycle and relaunched by On Point Studios, with new features added to enable players to find out what’s on their ballot, confirm voter status, and register to vote.

Much like its former 2016 version, the game allows users to take out their political frustrations by virtually “bopping” GOP candidates in the head. It’s very similar to whack-a-mole, except the mole is replaced by former President Donald Trump, Ohio’s Senator J. D. Vance, and Kevin Roberts, President of the Heritage Foundation, which is spearheading Project 2025.

cartoon renditions of Donald Trump and J.D. Vance around a Bop the Bigot logoPromotional image provided by On Point Studios.

B. Loewe, Director of On Point Studios, came up with the concept for this game when working as the Communications Director at Bazta Arpaio in 2016, and is the executive producer of this revamped version. In the first version of the game, Bop the Bigot players used a chancla (flip flop) to “bop” the characters, tapping into Latino culture by leaning on the childhood experience of being set right by a flying chancla from a fed-up mother or grandmother.

This year, the chancla is replaced by a more current element, a green coconut, referencing Kamala Harris’ coconut tree meme. There are also side characters like “the couch,” cat ladies, and more coconuts. All references to jokes about Vice-Presidential candidate Vance, or insults Vance has made about women on the campaign trail.

Another new addition is that Harris’ laugh is immortalized as the game-over sound effect, an unexpected detail that adds even more humor and levity to the game.

cartoon renditions of Donald Trump, Kevin Roberts, and J.D. Vance around a Bop the Bigot logoPromotional image provided by On Point Studios.

Bop the Bigot, which is playable on desktop and mobile, is intended not just as a way to vent political frustrations, but also as a tool for activism and securing voter engagement.

For example, the game supports the work of Mexican Neidi Dominguez Zamorano, Founding Executive Director of the non-profit organization Organized Power in Numbers by using the “game over” screen to prompt players to donate to it and support their efforts.

Organized Power in Numbers is focused on empowering workers in the South and Southwest of the U.S. through collective action and comprehensive campaigns. Their mission is to create a large-scale movement that challenges the status quo and advocates for workers' rights, and racial and economic justice.

Currently, Dominguez Zamorano is leading worker outreach to 2 million working-class voters in the South and Southwest through doorknocking, texting, and calls with the help of local groups in North Carolina, Arizona, New Mexico, and more.

“We have been blown away by the enthusiastic reception for the video game. We knew we wanted to be part of its creative approach because our movement needs more fun and laughter. We need more ways to connect with nuestra gente so we can feel joy among all the absurdity we witness every day,” Dominguez Zamorano shared with Luz Media via email.

“Our people are gente trabajadora and we deserve to feel uplifted even in our toughest moments. We are deeply involved in the South and Southwest so we know what’s at stake in this election and we’re happy this can be a resource to mobilize, raise spirits, and get out the vote," she concluded.

Dominguez Zamorano is a committed activist for immigrants and workers' rights, known for her strategist skills and expertise. She played a key role in the campaign to win DACA and has also held roles in major campaigns, including as Deputy National States Director for Bernie Sanders' 2020 presidential campaign. In addition to her work with Organized Power in Numbers, Dominguez Zamorano is serving as a Senior Advisor to Mijente’s Fuera Trump Initiative.

Grassroots efforts like these have taken on new life in 2024, with Bop the Bigot adding to the larger, ongoing fight against political apathy and disinformation. Just as it did during the 2016 race, the video game uses humor to soften the serious task at hand—getting people to the polls.

"We want the game to be a fun and comical outlet for anyone who’s been insulted, frustrated, or harmed by Trump in the past and everyone who is ready to move forward as a country after election day," explained Loewe in a press release. "The proposals in Project 2025 and the beliefs of Trump and Vance aren’t just weird, they’re truly harmful. We wanted to give people a humorous and peaceful way to smack down their racism and sexism. We hope it makes people laugh and also feel empowered and motivated to get to the polls on or before election day."

With a mix of satire, sharp political critique, and nostalgia, the game is a call to action. The upcoming election, which is getting closer by the minute, has sparked fierce activism and creative yet grounded initiatives like these aim to ensure voters are engaged, especially young Latinos and disenfranchised groups.